Fiat Chrysler to invest $1B in MI plant

FCA Spending Tax Savings On Plants $2K Bonus For U.S. Employees

That $3.5 billion investment and related actions involved production shifts at three plants in Illinois, Ohio and MI to gain capacity for the Jeep Cherokee, Jeep Wrangler and Ram Light Duty truck, as well as the introduction of three new Jeep models at plants in Ohio and MI.

Fiat Chrysler said on Thursday it would invest over $1 billion in its MI plant and add 2,500 jobs.

FCA is moving production of the next-generation Ram heavy-duty pickup truck in 2020 from Mexico to its Warren Truck Assembly Plant in MI where it will be built alongside the new Jeep Wagoneer and Grand Wagoneer.

The all-new 2019 Ram 1500 will make its debut at the North American International Auto Show in Detroit next Monday.

The move also protects Fiat-Chrysler from tariffs if the USA exits the North American Free Trade Agreement, something some negotiators and experts say looks increasingly likely.

"These announcements reflect our ongoing commitment to our US manufacturing footprint and the dedicated employees who have contributed to FCA's success", Marchionne said.

FCA CEO Sergio Marchionne says the company should adjust its manufacturing footprint to reflect "improvement in the USA business environment".

FCA Toledo Assembly Complex

Fiat Chrysler also announced it would give a $2,000 bonus to around 60,000 employees. During the 2016 presidential campaign then-candidate Donald Trump frequently attacked Ford Motor Co. and other automakers for importing vehicles from Mexico, threatening to enact a "big border tax" once elected.

Fiat Chrysler Automobiles N.V. (FCAU) reported its last quarterly earnings on 9/29/2017 where the firm reported its Actual EPS of $0.71/share against the analyst consensus estimate of $0.61/share.

Over the past 50 days, Fiat Chrysler Automobiles N.V. stock's -0.21% off of the high and 39.35% removed from the low. Cetera Investment Advisers now owns 14,074 shares of the company's stock valued at $148,000 after acquiring an additional 1,840 shares in the last quarter. That investment is also expected to be completed by 2020.

"I'm just elated at this news", Macomb County Executive Mark Hackel said.

"It's all taking off here in Macomb County", Hackel said. We are basically Ram county now.

The Jeep Wrangler Rubicon is unveiled ahead of the Los Angeles Auto Show in 2017.

"Bottom line: more jobs and more investment in our older section of the city", Fouts said in a Facebook post January 11. The Mexico plant will be repurposed to product commercial vehicles. That's where the $1 billion plant investment comes in, billed as a modernization of the MI facility.

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